Job Description:
About Us
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Sanctions Filter Support process is responsible reducing the false positive Sanctions volume. This is done through coding/scripting. The team is engaged in developing codes for rules and exceptions in Fircosoft based coding language. This team also performs impact and regression analysis through FOF tests which requires a high-level expertise in excel /database and should self-equipped to draw conclusions from data and suggest improvements. They are also required to produce detailed reports on OFAC hit rates and concurrently suggest blocking records and rules /exceptions to minimize impact of certain reports.
Job Description
Participates in design, development and implementation of complex applications, often using new technologies. Serves as a fully seasoned and proficient technical resource. May participate in projects and direct activities of a team related to special initiatives or operations. Routine accountability is for technical knowledge and capabilities as individual contributor.
- Able to work on FircoSoft Utilities (FML/FMM/FFF)
- Develop codes for rules /exceptions.
- Work on minimizing the false hits on OFAC queues.
- Must be able to multitask and handle various databases /NAS drives for performing the analytics with SQL
- Quickly produce required reports from the Databases with analytics to draw logical conclusions.
- Interacting with the onshore LOB partners as well Global Economic Sanctions teams
- Working on minimizing the genuine OFAC match getting released due to system/procedure gaps.
- Monitoring the reports and minimizing the risk through constant updates
- Organizing the data through Data Analytics
- Analyzing the data to draw conclusions and suggest improvements with VBA.
- Data based decision with six sigma approach.
- Handling the regular reviews from internal/external auditors and authorities
Responsibilities
- Handle coding rules/exceptions volumes
- Ensure the format errors are corrected at the Start of Day
- Performed detailed analysis on the OFAC hit rates as requested from the LOB business and produce a detailed summary.
- Run various systemic tests to produce the results as requested by the LOB.
- Work the Heavy hitter report to reduce the OFAC false hits .
- Work on minimizing the OFAC volumes.
- Managing the risk on regulatory requirements
- Contribute to the GLOBAL dashboards and data analytics.
- Replicate and share the best practices across regions.
Requirements
Education B tech CSE/IT/BSc computer science /MCA
Certifications If Any
Experience Range 10-12 years
Foundational skills
Domain knowledge on Sanctions/Payments
Good Communication skills (Written/Oral)
Working in Excel with formulas / Macros
Ability to create VBA modules/ macros in excel .
Able to create / maintain data and forms in MS Access and aware of programming in MS Access
Good SQL knowledge for data retrieval
Data Modelling
Advance Microsoft Office
Desired skills: SQL/Scripting/Business analytics/Data mining
Work Timings 11:30 AM to 8:30 PM (must be flexible)
Job Location* Hyderabad